MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Position in TeraWulf Inc. (NASDAQ:WULF)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 59.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,427,093 shares of the company's stock after selling 2,125,896 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.37% of TeraWulf worth $8,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WULF. Barclays PLC boosted its holdings in shares of TeraWulf by 419.7% in the 3rd quarter. Barclays PLC now owns 424,748 shares of the company's stock valued at $1,989,000 after buying an additional 343,016 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of TeraWulf by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,251 shares of the company's stock valued at $516,000 after buying an additional 4,756 shares in the last quarter. Lionsbridge Wealth Management LLC bought a new stake in shares of TeraWulf in the 4th quarter valued at about $194,000. ARS Investment Partners LLC boosted its holdings in shares of TeraWulf by 20.0% in the 4th quarter. ARS Investment Partners LLC now owns 12,000 shares of the company's stock valued at $68,000 after buying an additional 2,000 shares in the last quarter. Finally, XML Financial LLC bought a new stake in shares of TeraWulf in the 4th quarter valued at about $85,000. 62.49% of the stock is currently owned by institutional investors.

TeraWulf Price Performance

WULF traded down $0.01 during trading on Wednesday, reaching $3.91. 72,308,812 shares of the company's stock were exchanged, compared to its average volume of 30,124,075. TeraWulf Inc. has a 1 year low of $1.96 and a 1 year high of $9.30. The stock has a market capitalization of $1.50 billion, a P/E ratio of -11.85 and a beta of 3.00. The company's fifty day simple moving average is $2.95 and its 200-day simple moving average is $4.86.

TeraWulf (NASDAQ:WULF - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.09). TeraWulf had a negative return on equity of 15.91% and a negative net margin of 41.88%. The business had revenue of $34.41 million for the quarter, compared to analysts' expectations of $45.72 million. TeraWulf's revenue was down 18.9% on a year-over-year basis. Equities analysts forecast that TeraWulf Inc. will post -0.17 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Rosenblatt Securities lowered their price target on shares of TeraWulf from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Jones Trading began coverage on shares of TeraWulf in a research report on Monday, March 31st. They issued a "buy" rating and a $4.00 price objective for the company. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $7.86.

About TeraWulf

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.